Question 1

The new-product development process

Accepted Answer

A)  should have ongoing support from top management. 
B)  should avoid applying quantitative screening criteria--since applying such criteria tends to eliminate most of the "really new" ideas. 
C)  should be informal--to encourage creativity. 
D)  should start whenever the majority of current products are in the market maturity stage of the product life cycle. 
E)  All of these alternatives are correct. 
A)  should have ongoing support from top management. 
B)  should avoid applying quantitative screening criteria--since applying such criteria tends to eliminate most of the "really new" ideas. 
C)  should be informal--to encourage creativity. 
D)  should start whenever the majority of current products are in the market maturity stage of the product life cycle. 
E)  All of these alternatives are correct.

Question 2

The stage of the product life cycle in which competitors are most likely to introduce product improvements is the market growth stage.

Accepted Answer

A) True 
 B)False

Question 3

Product liability means the legal obligation of sellers to pay damages to individuals who are injured by defective or unsafe products.

Accepted Answer

A) True 
 B)False

Question 4

A manager shouldn't worry about making a financial return from money spent on a quality program as long as customers recognize that the quality is high.

Accepted Answer

A) True 
 B)False

Question 5

It is always in the best interest of the market pioneer for competitors to stay out of the market.

Accepted Answer

A) True 
 B)False

Question 6

In the market growth stage of the product life cycle, firms usually earn smaller profits than they did in the market introduction stage because new competitors enter the market.

Accepted Answer

A) True 
 B)False

Question 7

The legal obligation of sellers to pay damages to individuals who are injured by defective or unsafely designed products is called:

Accepted Answer

A)  breach of warranty. 
B)  product liability. 
C)  deficit accountability. 
D)  the rule of reason. 
E)  salutary responsibility. 
A)  breach of warranty. 
B)  product liability. 
C)  deficit accountability. 
D)  the rule of reason. 
E)  salutary responsibility.

Question 8

All of the following products are in the market maturity stage of the product life cycle EXCEPT:

Accepted Answer

A)  laundry detergents. 
B)  breakfast cereals. 
C)  satellite radios. 
D)  carbonated soft drinks. 
E)  gasoline-powered cars. 
A)  laundry detergents. 
B)  breakfast cereals. 
C)  satellite radios. 
D)  carbonated soft drinks. 
E)  gasoline-powered cars.

Question 9

At what stage of the product life cycle do industry profits start to decline?

Accepted Answer

A)  Market Maturity 
B)  Market Introduction 
C)  Market Growth 
D)  Stagnation 
E)  Sales Decline 
A)  Market Maturity 
B)  Market Introduction 
C)  Market Growth 
D)  Stagnation 
E)  Sales Decline

Question 10

During the SALES DECLINE stage of the product life cycle:

Accepted Answer

A)  firms with strong brands may make profits almost until the end. 
B)  no profits are earned. 
C)  price competition usually declines. 
D)  brand loyalty declines. 
E)  monopoly is typical. 
A)  firms with strong brands may make profits almost until the end. 
B)  no profits are earned. 
C)  price competition usually declines. 
D)  brand loyalty declines. 
E)  monopoly is typical.

Question 11

During the sales decline stage

Accepted Answer

A)  price competition from dying products is reduced. 
B)  profits are non-existent. 
C)  new products replace the old. 
D)  profits increase and then decrease. 
E)  None of these alternatives is correct. 
A)  price competition from dying products is reduced. 
B)  profits are non-existent. 
C)  new products replace the old. 
D)  profits increase and then decrease. 
E)  None of these alternatives is correct.

The new-product development process

The stage of the product life cycle in which competitors are most likely to introduce product improvements is the market growth stage.

Product liability means the legal obligation of sellers to pay damages to individuals who are injured by defective or unsafe products.

A manager shouldn't worry about making a financial return from money spent on a quality program as long as customers recognize that the quality is high.

It is always in the best interest of the market pioneer for competitors to stay out of the market.

In the market growth stage of the product life cycle, firms usually earn smaller profits than they did in the market introduction stage because new competitors enter the market.

The legal obligation of sellers to pay damages to individuals who are injured by defective or unsafely designed products is called:

All of the following products are in the market maturity stage of the product life cycle EXCEPT:

At what stage of the product life cycle do industry profits start to decline?

During the SALES DECLINE stage of the product life cycle:

During the sales decline stage

Marketing39s Value to Consumers, Firms, and Society

Marketing Strategy Planning

Evaluating Opportunities in the Changing Marketing Environment

Focusing Marketing Strategy With Segmentation and Positioning

Final Consumers and Their Buying Behavior

Business and Organizational Customers and Their Buying Behavior

Improving Decisions With Marketing Information

Elements of Product Planning for Goods and Services

Place and Development of Channel Systems

Distribution Customer Service and Logistics

Retailers, Wholesalers, and Their Strategy Planning

Promotion - Introduction to Integrated Marketing Communications

Personal Selling and Customer Service

Advertising, Publicity, and Sales Promotion

Pricing Objectives and Policies

Price Setting in the Business World

Ethical Marketing in a Consumer-Oriented World: Appraisal and Challenges

Economics Fundamentals

Marketing Arithmetic

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Exam 9: Product Management and New-Product Development

The new-product development process

The stage of the product life cycle in which competitors are most likely to introduce product improvements is the market growth stage.

Product liability means the legal obligation of sellers to pay damages to individuals who are injured by defective or unsafe products.

A manager shouldn't worry about making a financial return from money spent on a quality program as long as customers recognize that the quality is high.

It is always in the best interest of the market pioneer for competitors to stay out of the market.

In the market growth stage of the product life cycle, firms usually earn smaller profits than they did in the market introduction stage because new competitors enter the market.

The legal obligation of sellers to pay damages to individuals who are injured by defective or unsafely designed products is called:

All of the following products are in the market maturity stage of the product life cycle EXCEPT:

At what stage of the product life cycle do industry profits start to decline?

During the SALES DECLINE stage of the product life cycle:

During the sales decline stage

Marketing39s Value to Consumers, Firms, and Society

Marketing Strategy Planning

Evaluating Opportunities in the Changing Marketing Environment

Focusing Marketing Strategy With Segmentation and Positioning

Final Consumers and Their Buying Behavior

Business and Organizational Customers and Their Buying Behavior

Improving Decisions With Marketing Information

Elements of Product Planning for Goods and Services

Place and Development of Channel Systems

Distribution Customer Service and Logistics

Retailers, Wholesalers, and Their Strategy Planning

Promotion - Introduction to Integrated Marketing Communications

Personal Selling and Customer Service

Advertising, Publicity, and Sales Promotion

Pricing Objectives and Policies

Price Setting in the Business World

Ethical Marketing in a Consumer-Oriented World: Appraisal and Challenges

Economics Fundamentals

Marketing Arithmetic

Filters